by Admin | Sep 29, 2022 | Individual Taxes
With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes. Although most of the changes take effect in 2023, to qualify for the current credit, vehicles purchased after August 15, 2022, are...
by Admin | Sep 28, 2022 | Business Taxes, Individual Taxes, Tax Planning
Child Tax Credit The child tax credit is going back to its pre-2021 form. That means the 2022 credit amount drops back down to $2,000 per child. Children who are 17 years old don’t qualify for the credit this year, because the former age limit (16 years old)...
by Admin | Sep 24, 2022 | Individual Taxes
If you could not complete your 2021 tax return by April 18, 2022 and are now on extension, that extension expires on October 17, 2022. Failure to file before the extension period runs out can subject you to late-filing penalties. There are no additional extensions...
by Admin | Sep 22, 2022 | Individual Taxes, Tax Planning
Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events: Getting Married – If you just got married or are considering getting married, you need to be aware...
by Admin | Sep 21, 2022 | Individual Taxes
The 2022 Virginia General Assembly passed a law earlier this year giving taxpayers with a liability a rebate of up to $250 for individual filers and up to $500 for joint filers. Virginia will send eligible taxpayers a one-time rebate of up to $250 for individuals and...
by Admin | Sep 20, 2022 | Individual Taxes, Tax Planning
Newspapers and media reports have been filled with talk of inflation and recession. Experts are arguing about the definition of the latter. Pundits are pondering whether the slow down reflected in the latest consumer price index report means that inflation has peaked....
